China dominates the global market for rare earth materials. © Reuters
Nike Asia. China is weighing an export ban on rare earth magnet technology
Beijing prepares to hit back after Washington’s chip restrictions
BEIJING – China is considering banning the export of certain rare-earth magnet technologies, which would challenge the US’s advantage in the high-tech arena. Officials plan to make changes to the list of technology export restrictions, which was last updated in 2020.
The revisions would either ban or restrict the export of technologies for the processing and purification of rare earth elements. There are also proposed provisions that would ban or limit the export of alloy technology to make high-performance rare earth magnets. In total, there are 43 changes or additions to the draft list first announced in December by the ministries of trade and technology.
Officials have completed public comment from experts, and the changes are expected to go into effect this year. High performance magnets are used in a wide range of applications such as electric vehicle motors.
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Update: China Plans to Ban Export of Rare Earth Magnets (Japan News/Yomiuri Shimbun)
Update #2. China Weighs Rare Earth Magnet Export Ban in Response to Biden’s Chip Fight (Zero Fence)
WNU editorChina Responds to Changing Markets… The West is trying to push China out of the rare earths, and China is taking notice (Quartz). Unfortunately, the US continues to shoot itself in the foot… Biden official grilled for cutting domestic mining despite US dependence on China (ABC News).